Mark Stephen Katz Buys 3,215 Shares of Ryan Specialty (NYSE:RYAN) Stock

Ryan Specialty Holdings Inc. (NYSE:RYAN) EVP Mark Stephen Katz purchased 3,215 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average cost of $31.07 per share, with a total value of $99,890.05. Following the completion of the purchase, the executive vice president directly owned 4,332 shares in the company, valued at approximately $134,595.24. This represents a 287.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Ryan Specialty Price Performance

Shares of RYAN opened at $32.57 on Friday. The stock has a market capitalization of $8.59 billion, a P/E ratio of 42.30, a P/E/G ratio of 0.77 and a beta of 0.64. Ryan Specialty Holdings Inc. has a twelve month low of $29.28 and a twelve month high of $70.08. The company has a 50 day moving average of $33.52 and a 200-day moving average of $42.63. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.90.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.04. The company had revenue of $795.23 million during the quarter, compared to analysts’ expectations of $781.44 million. Ryan Specialty had a net margin of 8.21% and a return on equity of 41.33%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. As a group, equities research analysts forecast that Ryan Specialty Holdings Inc. will post 2.05 EPS for the current fiscal year.

Ryan Specialty declared that its board has authorized a stock repurchase plan on Tuesday, May 26th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. Ryan Specialty’s dividend payout ratio (DPR) is currently 67.53%.

Institutional Trading of Ryan Specialty

Several institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new position in Ryan Specialty in the third quarter valued at approximately $28,000. Los Angeles Capital Management LLC bought a new position in shares of Ryan Specialty in the 4th quarter worth $25,000. SBI Securities Co. Ltd. lifted its holdings in shares of Ryan Specialty by 6,322.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company’s stock worth $30,000 after purchasing an additional 569 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Ryan Specialty by 65.4% in the 3rd quarter. Fifth Third Bancorp now owns 612 shares of the company’s stock worth $34,000 after purchasing an additional 242 shares in the last quarter. Finally, Quarry LP bought a new position in Ryan Specialty during the 3rd quarter valued at $37,000. 84.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RYAN has been the subject of a number of research analyst reports. Royal Bank Of Canada initiated coverage on shares of Ryan Specialty in a research report on Tuesday, March 17th. They set an “outperform” rating and a $45.00 price objective for the company. Bank of America reduced their price objective on shares of Ryan Specialty from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Wells Fargo & Company cut shares of Ryan Specialty from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $42.00 to $31.00 in a research report on Friday, May 1st. The Goldman Sachs Group reissued a “buy” rating and set a $42.00 target price on shares of Ryan Specialty in a report on Friday, May 1st. Finally, Zacks Research downgraded Ryan Specialty from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Ryan Specialty currently has an average rating of “Hold” and an average price target of $46.76.

About Ryan Specialty

Ryan Specialty Group, Inc (NYSE: RYAN) is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients’ unique needs.

Ryan Specialty’s core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.